Documentation

After falling in August and September, intervention in the gold market by the Bank for International Settlements via gold swaps increased substantially in October, according to the bank's monthly statement of account, published this week:

How did that "exhaustive" investigation of the silver market by the U.S. Commodities Futures Trading Commission miss this? How will the World Gold Council and most monetary metals mining companies continue to miss it? How many more anti-trust lawsuits will this prompt? Anybody seen Blythe Masters lately?

Few players in the gold and silver markets are bigger than the Bank of Nova Scotia, whose metals trading division, Scotia Mocatta, is world-renowned. The Bank of Nova Scotia is a member of the London Bullion Market Association and has had a seat at the daily London gold price fixing.

Gold swaps and gold derivatives undertaken by the Bank for International Settlements appear to have declined by about 24 percent in August, according to the bank's statements of account for that month and July: